infoTECH News

Arrowhead Research Corporation (NASDAQ: ARWR), a biopharmaceutical
company developing targeted RNAi therapeutics, today announced financial
results for its fiscal 2014 third quarter ended June 30, 2014 and
provided an update on the Phase 2a study of ARC-520, its RNAi-based
candidate for the treatment of chronic hepatitis B infection. The
company is hosting a conference call at 4:30 p.m. EDT to discuss
results. Conference call and webcast details can be found below.

ARC-520 Phase 2a Study Update

Completed dosing of 1 mg/kg and 2 mg/kg dose cohorts

Initial blinded data suggest that the magnitude of HBsAg knockdown is
similar to non-human primate studies, including the chronically
infected chimpanzee reported on previously

Duration of knockdown appears to be substantially more sustained than
in non-human primates, with patients in the 2 mg/kg group still
demonstrating substantial knockdown after 8 weeks, which is the most
recent time point available

HBsAg levels appear to continue to decline in a number of patients at
the 8 week time point in the 2 mg/kg group

Based on initial review, dosing less frequent than once monthly will
be explored in Phase 2b

ARC-520 continues to be well tolerated, with no dropouts or serious
adverse events reported

The overall rate of AEs has been lower in the Phase 2a than in the
Phase 1 normal volunteer study and safety labs continue to show no
indication of end organ toxicity

Enrolled and dosed additional subjects at 3 mg/kg in the still open
normal volunteer study and the dose performed well, without detected
differences from safety and tolerability results at the other doses.
Overall AEs do not appear to be increasing in frequency or severity
with dose

Received IRB and DSMB approvals to proceed and began enrolling an
additional dose cohort at 3 mg/kg in the Phase 2a patient study

Fiscal 2014 Third Quarter and Recent Company Highlights

Nominated a second clinical candidate using our DPC delivery system,
ARC-AAT, for the treatment of a rare liver disease associated with
alpha-1 antitrypsin deficiency and hosted an analyst day to present
preclinical data

Signed an agreement with The Alpha-1 Project (TAP), the venture
philanthropy subsidiary of the Alpha-1 Foundation. Under the terms of
the agreement, TAP will partially fund the development of ARC-AAT. In
addition, TAP will make its scientific advisors available to
Arrowhead, assist with patient recruitment for clinical trials through
the Alpha-1 Foundation Patient Research Registry, and engage in other
collaborative efforts that support the development of ARC-AAT

Initiated the final steps required to file an IND or equivalent
application for ARC-AAT, including necessary toxicology studies

Expanded intellectual property protection with U.S. Patent Application
number 13/535,454 covering ARC-520's siRNA component, being recently
allowed by the U.S. Patent and Trademark Office

Presented data on advancements made to the DPC delivery system at
multiple scientific meetings

Net loss attributable to Arrowhead for the qarter was $11.6 million, or
$0.22 per share based on 51.9 million weighted average shares
outstanding. This compares with a net loss attributable to Arrowhead of
$6.1 million, or $0.23 per share based on 26.1 million weighted average
shares outstanding, for the quarter ended June 30, 2013.

Total operating expenses for the quarter were $12.7 million, compared to
$6.4 million for the quarter ended June 30, 2013. Research and
development related expenses were $6.4 million and general and
administrative expenses were $1.6 during the quarter.

Net cash used in operating activities for the first nine months of
fiscal 2014 was $24.5 million, compared with $13.6 million in the prior
year period.

The company's cash and investments of cash were $188.5 million at June
30, 2014, compared to $29.8 million at September 30, 2013. The increase
in the cash balance reflects financings completed in October 2013 and
February 2014, plus cash inflow from exercise of warrants and stock
options of $12.4 million.

Common shares outstanding at June 30, 2014, were 52.9 million, and 58.5
million assuming conversion of preferred stock outstanding.

Conference Call and Webcast Details

To participate in the conference call, please dial 855-215-6159 (toll
free from the US) or 315-625-6887 (for international callers) and enter
Conference ID 82825377. Investors may also access a live audio webcast
of this conference call on the Company's website at http://ir.arrowheadresearch.com/events.cfm.

A replay of the webcast will be available approximately two hours after
the conclusion of the call and will remain available for 90 days. An
audio replay will also be available approximately two hours after the
conclusion of the call and will be available for 7 days. The audio
replay can be accessed by dialing 855-859-2056 (toll free from the US),
or 404-537-3406 (for international callers) and entering Conference ID
82825377.

About ARC-520

Arrowhead's RNAi-based candidate ARC-520 is designed to treat chronic
HBV infection by reducing the expression and release of new viral
particles and key viral proteins. The goal is to achieve a functional
cure, which is an immune clearant state characterized by hepatitis B
s-antigen negative serum with or without sero-conversion. The siRNAs in
ARC-520 intervene at the mRNA level, upstream of where nucleotide and
nucleoside analogues act. In transient and transgenic mouse models of
HBV infection, a single co-injection of Arrowhead's Dynamic
Polyconjugate (DPC) delivery vehicle with cholesterol-conjugated siRNA
targeting HBV sequences resulted in multi-log knockdown of HBV RNA,
proteins and viral DNA with long duration of effect. The company is
conducting a single dose Phase 2a study in chronic HBV patients, and
expects to follow with a multi-dose, multi-national Phase 2b program.
Approximately 350 million people worldwide are chronically infected with
the hepatitis B virus. Chronic HBV infection can lead to cirrhosis of
the liver and is responsible for 80% of primary liver cancers globally.

About ARC-AAT

Arrowhead has developed ARC-AAT for the treatment of liver disease
associated with Alpha-1 Antitrypsin Deficiency (AATD), a rare genetic
disease that severely damages the liver and lungs of affected
individuals. ARC-AAT employs a novel unlocked nucleobase analog (UNA)
containing RNAi molecule designed for systemic delivery using the
Dynamic Polyconjugate delivery system. ARC-AAT is highly effective at
knocking down the Alpha-1 antitrypsin (AAT) gene transcript and reducing
the hepatic production of mutant AAT (Z-AAT) protein. Reduction of
inflammatory Z-AAT protein, which has been clearly defined as the cause
of progressive liver disease in AATD patients, is important as it is
expected to halt the progression of liver disease and allow fibrotic
tissue repair. The Company plans to file for regulatory permission in
the fourth quarter of 2014 and to commence clinical studies.

About Arrowhead Research Corporation

Arrowhead Research Corporation is a biopharmaceutical company developing
targeted RNAi therapeutics. The company is leveraging its proprietary
Dynamic Polyconjugate delivery platform to develop targeted drugs based
on the RNA interference mechanism that efficiently silences
disease-causing genes. Arrowhead's pipeline includes ARC-520 for chronic
hepatitis B virus, ARC-AAT for liver disease associated with Alpha-1
antitrypsin deficiency, and partner-based programs in obesity and
oncology.

This news release contains forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These statements are based upon our
current expectations and speak only as of the date hereof. Our actual
results may differ materially and adversely from those expressed in any
forward-looking statements as a result of various factors and
uncertainties, including our ability to finance our operations, the
future success of our scientific studies, our ability to successfully
develop drug candidates, the timing for starting and completing clinical
trials, rapid technological change in our markets, and the enforcement
of our intellectual property rights. Arrowhead Research Corporation's
most recent Annual Report on Form 10-K and subsequent Quarterly Reports
on Form 10-Q discuss some of the important risk factors that may affect
our business, results of operations and financial condition. We assume
no obligation to update or revise forward-looking statements to reflect
new events or circumstances.

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